Groundnut, cottonseed oils prices up on local buying

SummaryPrices of groundnut and cottonseed oils moved up by Rs 50 per quintal in the wholesale oils and oilseeds market.

Prices of groundnut and cottonseed oils moved up by Rs 50 per quintal in the wholesale oils and oilseeds market today on increased local buying to meet the wedding season demand.

However, non-edible oils moved in a narrow range in scattered deals from consuming industries and pegged around previous levels.

Marketmen said increased buying activity driven by ongoing marriage season mainly led to rise in groundnut and cottonseed oil prices.

In the national capital, groundnut mill delivery (Gujarat) and cottonseed mill delivery (Haryana) oils rose by Rs 50 each to Rs 12,450 and Rs 7,000 per quintal respectively. The following were today's quotations per quintal: Oilseeds: Mustardseed 2,950-3,050 and Groundnut Seed 2,150-2,900.